too high taxes and if we would just cut that spending and we would have that big recovery, if that is your theory, and it is pretty much the major theory of the political party this week, then you had a bad week. we got two pieces of bad news, one was bad, one good. one was the economy shrunk in the first quarter of 2012. that is the bad news, the other is that the economy added 157,000 jobs in january. but, and this is actually even more important, it added 127,000 more jobs than we thought in november and december. so altogether, today's jobs report added more than 280,000 jobs. 280,000 to the economy. that is pretty good. but it was what those reports said about the debate we are having in washington that was really interesting. when we measure economic growth, we're not measuring all that many things. it is only four main things, at least in category, there is consumer spending, what you and i buy. there is investment, so factoring in getting a new machine, that was very slightly down. there is trade, the stuff we export, minus the stuff we import. that is a bit down.